Oklahoma Life and Health State Exam

12 Oklahoma Life and Health State Exam Simulator3/4 1.Which statement concerning adjustable life insurance is accurate?ANS The face amount and premiums can be changed simultaneously by the policyowner 2.Federally qualified HMO's must offer ANS family planning services 3.How are monthly life annuity benefit payments treated under a tax sheltered annuity (TSA)?ANS Taxed as ordinary income in the year received 4.Insurable interest involves what assumption?ANS One person benefits from an- other person's continued life 5.What does the rehabilitation benefit cover in a disability income policy?ANS - Covers the approved cost of the rehabilitation necessary to help a disabled insured return to work 6.Which of the following relationships demonstrates insurable interest in the 1 / 2

12 absence of economic interest?ANS marriage partners 7.Which life insurance settlement option pays a stated monthly benefit until both principal and interest are exhausted?ANS Fixed amount installment option 8.Which life insurance clause prohibits an insurance company from question- ing the validity of the contract after a stated period of time has passed?ANS In- contestable clause 9.Which event triggers a deferred annuity to start making benefit payments to the annuitant?ANS When the contract is annuitized 10.When a producer submits an application that discloses personal informa- tion regarding the applicant, who supplies the privacy notice?ANS producer 11.Which of the following best describes the presumptive disability provi- sion?ANS Waives the normal total disability requirements 12.Jerry has an indemnity plan which covers dental expenses. Typically, these type of plans